Vilas Capital Management Q1 2019 Letter

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Includes: C, LNC, MGIC, NMI, VIA
by: Fund Letters
Summary

Vilas Capital Management is a value manager that seeks to outperform market averages, net of all fees and expenses, by investing in a concentrated portfolio of undervalued securities.

The Vilas Fund rose 34.3% in the first quarter of 2019.

The biggest gains were generated in NMI Holdings, MGIC, Viacom, Citigroup and Lincoln National. The main detractor of performance in the quarter was CVS.